StrikePoint Completes Sale of Certain Rice Lake Assets to San Gold Corporation

    




 SKP: TSXV   STKXF: OTCQX 

 CALGARY, June 7, 2012 /CNW/ - StrikePoint Gold Inc., ("StrikePoint")   (OTCQX: STKXF) announces that it has completed the sale of  certain assets located in the Rice Lake Gold Belt of Manitoba to San  Gold Corporation ("San Gold")  (OTCQX:SGRCF) (the  "Transaction") pursuant to the terms of a purchase agreement (the  "Agreement"). 

 The assets sold under the Agreement include 50 mining claims (covering  8,974 ha) North and West of the town of Bissett, Manitoba, including 26  mining claims (covering 3,595 ha) adjacent to San Gold's current gold  mining operations at Bissett. The consideration for these claims was  $2,300,000 and was paid by San Gold to StrikePoint through the issuance  of 1,573,188 San Gold common shares ("San Gold Common Share") at a  deemed price of $1.462 per San Gold Common Share. The San Gold Common Shares issued as  consideration to StrikePoint pursuant to the Transaction are subject to  a hold period pursuant to applicable securities laws of four months and  one day from the date of issuance of the San Gold Common Shares. 

 In addition to the 50 mining claims described above, the Transaction  also involved the sale to San Gold of StrikePoint's wholly-owned  Manitoba subsidiary company, 6004903 Manitoba Ltd. ("6004903"), which  holds title to real property and a house located in Bissett, Manitoba.  The cash consideration paid by San Gold for the purchase of 6004903 was  $125,000. 

 Twenty six mineral claims sold to San Gold pursuant to the Agreement  were subject to an option agreement between StrikePoint and San Gold.  The Agreement terminates the option agreement described in our press  release of January 15, 2010. 

 About StrikePoint 

 StrikePoint is an exploration company which is currently exploring its  Angelina property located at the east end of the Rice Lake Gold Belt in  Manitoba and a gold/copper project in the Pokiok Batholith in New  Brunswick. 

 For further information please contact: 

 Richard A. Boulay, Chairman of StrikePoint, On behalf of the Board of  Directors. 

 For further information please contact:  

 Neither TSX Venture Exchange nor its Regulation Services Provider (as  that term is defined in the policies of the TSX Venture Exchange)  accepts responsibility for the adequacy or accuracy of this release. 

StrikePoint Gold Inc.


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